AFP
CTP · Question #133
(Topic 2) The auditors of a private college are examining and auditing the college's financial statements. The statements are not presented in accordance with GAAP. What should the auditors do?
The correct answer is D. Issue an adverse opinion. See the full explanation below for the reasoning.
Question
- (Topic 2)
The auditors of a private college are examining and auditing the college’s financial statements. The statements are not presented in accordance with GAAP. What should the auditors do?
Options
- AIssue a standard unqualified opinion.
- BNot render an opinion.
- CBase their opinion on GASB standards.
- DIssue an adverse opinion.
How the community answered
(26 responses)- A12% (3)
- B4% (1)
- C8% (2)
- D77% (20)
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